Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders: The…

Hardcover | March 30, 2007

byCurtis Faith

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“We're going to raise traders just like they raise turtles in Singapore.”

So trading guru Richard Dennis reportedly said to his long-time friend William Eckhardt nearly 25 years ago. What started as a bet about whether great traders were born or made became a legendary trading experiment that, until now, has never been told in its entirety.

Way of the Turtle reveals, for the first time, the reasons for the success of the secretive trading system used by the group known as the “Turtles.” Top-earningTurtle Curtis Faith lays bare the entire experiment, explaining how it was possible for Dennis and Eckhardt to recruit 23 ordinary people from all walks of life and train them to be extraordinary traders in just two weeks.

Only nineteen years old at the time-the youngest Turtle by far-Faith traded the largest account, making more than $30 million in just over four years. He takes you behind the scenes of the Turtle selection process and behind closed doors where the Turtles learned the lucrative trading strategies that enabled them to earn an average return of over 80 percent per year and profits of more than $100 million. You'll discover

  • How the Turtles made money-the principles that guided their trading and the step-by-step methods they followed
  • Why, even though they used the same approach, some Turtles were more successful than others
  • How to look beyond the rules as the Turtles implemented them to find core strategies that work for any tradable market
  • How to apply the Turtle Way to your own trades-and in your own life
  • Ways to diversify your trading and limit your exposure to risk

    Offering his unique perspective on the experience, Faith explains why the Turtle Way works in modern markets, and shares hard-earned wisdom on taking risks, choosing your own path, and learning from your mistakes.

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From the Publisher

“We're going to raise traders just like they raise turtles in Singapore.” So trading guru Richard Dennis reportedly said to his long-time friend William Eckhardt nearly 25 years ago. What started as a bet about whether great traders were born or made became a legendary trading experiment that, until now, has never been told in its enti...

From the Jacket

After nearly 25 years, the turtles come out of their shells.Way of the Turtle takes a never-before-seen look at the legendary Turtle Traders and the famous experiment that made them millions. Curtis Faith, the most successful member of this elite group, breaks the silence to reveal the rules, timing, risks, rewards, and secrets to his ...

Curtis M. Faith was the most successful of the Turtles, earning more than $30 million for Richard Dennis while trading as a Turtle. He is one of the industry's leading pioneers of mechanical trading systems and software. Faith is currently head of research and development for Trading Blox, LLC, a company that specializes in software fo...

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Format:HardcoverDimensions:240 pages, 9.3 × 6.3 × 1.05 inPublished:March 30, 2007Publisher:McGraw-Hill EducationLanguage:English

The following ISBNs are associated with this title:

ISBN - 10:007148664X

ISBN - 13:9780071486644

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Customer Reviews of Way of the Turtle: The Secret Methods that Turned Ordinary People into Legendary Traders: The Secret Methods that Turned Ordinary People into Legendar

Reviews

Rated 1 out of 5 by from 2.5/10 The books cover states "One of the 5 best books on trading" I disagree. This book is based on a Trend following system and there is no fundamental coverage on any trades. The author also writes about the mathematics the turtles used such as "R Cubed" I didn't find any of this particulary useful. There is some decent material on market physcology, and some good rules on emmotion's and bias in trading. Also keep in mind the Author apparently lost his money trading.
Date published: 2007-09-30

Extra Content

Table of Contents

Introduction: The Bet that Launched the Turtles

  1. One Turtle's Story
  2. The Turtle Way - How the Turtles Made Money
  3. The Basic Elements of The Turtle Way
  4. Trading Psychology - Preparing Yourself to Do the Right Thing
  5. Money Management - Staying Alive through Tough Times
  6. Cutting Losses - Knowing When to Get Out of a Losing Trade
  7. Letting Profits Run - When to Exit a Winning Trade
  8. Catching the Wave - How to Enter a Position
  9. Diversification - Smoothing Out Your Returns
  10. Limiting Risk - Protecting Against Disaster16
  11. Systems Part I - Finding a Strategy that Fits You
  12. Systems Part II - Avoiding the Pitfalls of Testing
  13. Systems Part III - Going from Testing to Trading